Parker Hannifin Corp. is currently investing more than $3.5 million to boost production capacity and adding approximately 60 new jobs by the end of 2006 at its Climate Systems operation in New Haven. The new jobs are in addition to approximately 200 recent hires, and by year-end total employment at the plant should top 960.
In 2003, approximately 725 workers were employed there. The plant produces mechanical controls and fluid systems for global residential and commercial air conditioning and refrigeration markets.
“We are happy to be bringing the work to New Haven that is fueling this growth,” said Parker operations manager Brad Lichtenberger. “This is an important facility within Parker, and local management will continue to seek out products and processes that can help sustain and grow our operation for the foreseeable future.”
The Indiana EDC, the city of New Haven, the Allen County Department of Planning Services and the Fort Wayne-Allen County Economic Development Alliance have worked together on a tentative incentive package to assist Parker Hannifin with this growth. The IEDC has offered incentives of up to $360,000 in tax credits based on total employment and capital investment.
In addition, the city of New Haven will consider tax abatement for the applicable investment. Final details of the package are still being worked out.
Headquartered in Cleveland, Ohio, Parker Hannifin employs more than 57,000 people in 43 countries around the world. Parker has increased its annual dividends paid to shareholders for 50 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index.
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